In London, markets climbed upon opening but began to sink by mid-morning after gains in the US and the FTSE 100 was up 7.7 points (0.13%) to 5,715.4.
Lonmin shares made the biggest early gains, up 86 points (2.77%) to £31.92, followed by Reuters, which added 11 points (1.84%) to 609p.
Admiral Group shares lost 44.5 points (4.76%) to 890p, while Old Mutual dropped 4.3 points (3.69%) to 112.2p as financial shares continued to struggle in the changing market.
On Wall Street, market climbed as several big US lenders said recent interest rate cuts should help stave off a recession, and the Dow Jones dropped 57.88 points (0.48%) to 12,240.01.
General Motors shares climbed despite reports of losses in the North American market, up 1.32 (5.12%) to 27.12, while Home Depot added 0.72 (2.57%) to 28.69.
American Internation Group saw shares slide as the firm revealed major losses from the sub-prime crisis, down 5.94 (11.72%) to 44.74, while Microsoft lost 0.35 (1.23%) to 28.21, after Yahoo! turned down a takeover offer.
In Tokyo, market showed varied performance after news of AIG’s writedowns, and the Nikkei 225 added 4.72 points (0.03%) to 13,021.96.
Japan’s second largest insurer, Mitsui Sumitomo Insurance Co, lost 6.4% to 1,031 yen, while Fujitsu climbed 8.2% to 742 yen.
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